Chicago Startup Review Trackers' $2 Million Investment Round Means Small Businesses Succeed in Today's Review Economy
CHICAGO, Ill., June 17, 2014-- Review Trackers, Inc., a Chicago-based startup housed in Wicker Park, has announced the successful completion of its $2 million funding round from a field of premier Midwest investors. The series round was lead by Milwaukee's CSA Partners; top investors include American Family Ventures, Jeff Rusinow, and SymphonyAlpha Ventures. Review Trackers' cloud software review management platform launched in January 2013 and has since established itself as the premier review management tool for thousands of small businesses, franchises, and independent service providers such as restaurants, car dealerships, and doctors. Review Trackers' proprietary online/social review management technology compiles and constantly updates consumer experiences via a comprehensive inventory of popular review forums (OpenTable, Foursquare, TripAdvisor) as well as smaller niche customer feedback sites, so businesses can field/address customers, manage online reputations, and leverage key insights to generate increased revenue.
Today's transparent customer satisfaction climate means positive digital "word-of-mouth" endorsements are crucial to the viability of both new and established businesses. Harvard University research shows that a 1-star rating difference on a review site may result in 5%-9% revenue gained or lost. This amounts to $50-90k for a mid-size restaurant, an amount that can mean the difference between a profitable or unprofitable year. Says Review Trackers' investor Jeff Rusinow, "In today's market, it is absolutely crucial for businesses to stay on top of their customer satisfaction and feedback. Companies currently must invest enormous time and energy at better understanding how they're performing and relating to their customers. Review Trackers is paramount for those businesses, helping them quickly and comprehensively identify trends, strengths, and opportunities for improvements."
According to Review Trackers' Founder, Chris Campbell, the company supersedes competitors based on the same principle at the heart of its business model: superior customer satisfaction is paramount. Review Tracker's most recent investment round facilitates continued, exponential growth and dedication to its customers. The company's current 14-person team employs a Customer Happiness Specialist to ensure businesses are experiencing both monetary and reputational success. Says Campbell, "A negative online review is equivalent to someone standing outside your business holding a sign telling people to not go in. Review Trackers is to online reviews, what Hootsuite is to social media. We're committed to making it simple for businesses to efficiently manage and monetize customer feedback."
About: Review Trackers is a software platform that helps multi-location businesses manage customer online reviews. They track, generate, and analyze consumer-generated reviews on all major review sites, enabling businesses to listen closely and respond promptly to what their customers are saying online. For more information, visit www.reviewtrackers.com.
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